The surface mount technology (SMT) market was valued at USD 2.70 Billion in 2014 and is expected to grow at a CAGR of 9.84% between 2015 and 2020. The base year used for study is 2014, and the forecast period is from 2015 to 2020. This report provides a detailed analysis of the surface mount technology market based on equipment, application, and region. It has been estimated that the SMT placement equipment would hold a large share of the surface mount technology market. The market for SMT placement equipment was valued at USD 1,231.6 Million in 2014. However, the market for SMT inspection equipment is expected to grow at a high CAGR of 12.76% between 2015 and 2020.

To estimate the size of the surface mount technology market, we have been considered top players in the market and their share in the said market. This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, and interviews with industry experts. All the percentage splits and segment breakdown of the market is based on secondary research and primary research.

This research report categorizes the global surface mount technology market based on equipment, application, and region.

On the Basis of Equipment

The global SMT equipment market has been segmented based on screen print, soldering, placement, inspection, cleaning, and repair & rework.

On the Basis of Revenue Source

The global SMT market has been further been segmented based on the application into telecommunication, consumer electronics, aerospace & defense, automotive, medical, industrial, and energy & power systems.

On the Basis of Region

The global surface mount technology market has been split into four regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The market in North America includes the U.S., Canada, and Mexico. The market in Europe includes the U.K., France, and Germany. The market in APAC includes China, Japan, and Rest of APAC (RoAPAC). Rest of the World (RoW) includes the Middle East, Africa, and Latin America.

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The surface mount technology market was valued at USD 2.70 Billion in 2014 and is expected to grow at a CAGR of 9.84% between 2015 and 2020. The miniaturization of electronics product, primarily consumer products, and circuit boards with greater packaging density is driving the market. Using surface mount technology method, both layers of the PCBs could be used for assembling and the final PCB area for the same circuits could be decreased by 50%. The size of the circuit with miniaturized electronic components could be reduced by 30% than the conventional technique.

Consumer electronics application accounted for the largest share among all applications of the surface mount technology market, followed by that of telecommunication in 2014. Electronic devices such as cell phones, laptops, MP3 players, and GPS navigation systems have evolved due to the miniaturization of technology and revolutionary development of microelectronics. Thus, the demand for SMDs in applications related to consumer electronics is increasing and is expected to grow at a faster rate than the other applications during the forecast period. With the rising demand for sophisticated electronics systems required in luxury cars and sport utility vehicles (SUVs), there has been a significant growth in the demand for SMDs in the automotive sector.

SMT placement equipment represents the largest product market driven by the miniaturization trend, which has resulted in need for higher accuracy in the placement of semiconductor active components such as transistors and diodes among others. The market for inspection equipment segment is expected to grow at a faster rate due to an increase in use of small-sized components and optoelectronics which would force the electronics assemblers to invest in inspection equipment during the forecast period. Eliminating rework, improving manufacturing processes, reducing related costs, and increasing profit are some of the advantages driving adoption of SMT inspection equipment.

APAC accounted for the largest share of the surface mount technology market in 2014; the market in the region is expected to grow at a high CAGR between 2015 and 2020. Increasing electronic manufacturing activity, rising demand miniaturization of components, and growth in consumer and automotive electronics are driving the SMT market in the APAC region.

One of the key restraining factors in the surface mount technology market is the high cost of the surface mount equipment. Selection of the SMT equipment is dependent on different factors such as device complexity, packaging and equipment standards, type and number of parts to be placed, and future needs for volume and flexibility. Nordson Corp. serves numerous consumer nondurable, durable, and technology end markets including packaging, electronics, medical, appliances, energy, transportation, construction, general product assembly, and finishing. One of the reasons for the companys strength and stability is its vast product portfolio, which spans over a range of products and services for different stages in a typical PCB mounting cycle.

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